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that the job market out there. be the even more fearful than during the recession, which is the law. they're even less like a quit even though we should've expected a big increase in the recovery started. the more reason you can get that water level up even though you're adding a slaughter is because the number of jobs in terms of points is even lower than normal. one measure of how hard it is is to get the number of hires each month compared to the number of people unemployed and looking as well as the number of people who lived given up looking for work. you can see how the ratio has gone up and pretty much been stuck since 2009. we haven't really seen the number of jobs out there matching the number of people who are looking for work. and that gives you some idea of why this quit rate has not gone up, white state so though. people have said good idea of how hard it is to go and find a job. there's two groups of people being hurt the most. people at 55 and they basically lose their jobs there's a lot of trouble trying to find it and also very young people who are in train the job market
needed before it can be executed or implemented? you, you cut and in like 18,000 separate law enforcement agencies in the united states. i'm not knowledgeable of how those categories are handled by independent law enforcement entities, what it takes to have those categories added and the information and put in each of these law enforcement jurisdictions. i would have to get back to you. >> i appreciate that. i think the communities -- the communities also would. in terms of training, we have had this discussion about fbi staff training. the train was utilizing stereotypic erroneous information. we brought that to you, and you're telling us, you're looking at, making sure that these things would be eliminated and addressed. since then, i have heard a couple more times that certain regions have been doing that again. i would like an update on that train. in this area. tomade changes to that end my understanding, those changes have been adopted. training meets the appropriate standards. if you have instances that you have heard that is not accurate, i would appreciate knowing it but i have n
borrow the money and pay your check because your entitled to it as a matter of law, at a certainagers you qualify. -- at a certain age, you qualify. if your income is below a certain level, you're entitled to the money. whether uncle sam has it or not. that's based on law. that's based on legislation that congress passed that entitles people that under certain circumstances to obtain federal money. and get it as a matter of entitlement. and so when those programs are surging at 6% a year, medicaid, the poor person's insurance program, is projected to go to -- to grow 8% a year over the next decade, 117% over the next ten years, when those programs are going at that rate and the economy is growing at 2%, you have got a problem. you don't have to go to the harvard business school to know that. you really don't have to go to harvard to know that. when i talk to the american people, they understand it fully. they expect that we are really going to have to make tough choices in this country to get the country on the right path, and they are girding themselves to support such tough choices, but
to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. and make your business dream a reality. ♪ ♪ we're lucky, it's not every day you find a companion as loyal as a subaru. love. it's what makes a subaru, a subaru. >> self defense or pre-meditated murder? a arizona jury will have to decide her fate. a foreign sglik psychiatrist hired the defense will be taking the stand. that is all tonight. thanks for being with us. make sure you go to greta wire.com. make sure you know what's going on with us tonight jodi arias trial. good night from washington, d.c. >> this is a fox report. tonight evacuations underway here at the airport in the nation's heartland where a small corporate jet has gone down hitting a group of homes. six months after the killings of libya and three other americans there are new questions tonight about why we have not heard from the people who did escape from that ambush alive. >> survivors from that deadly night terrorist attacked our american diplomatic out post in libya. what do these people know and why don't our
frank is a very large -- it is a complicated law. probably more complicated than i would have preferred, but it is what it is. at the heart of it is ending too big to fail, giving the government new tools to resolve large financial institutions when they feel in a way it will not hurt taxpayers and not subject them to risk. well, it forced losses on the shareholders and creditors of the large financial institutions, which is where they belong. it also requires the federal reserve board to have much tougher prudential standards, so higher capital, more stable liquidity, less reliance on short-term debt. those are the types of things that were problems during the crisis and the fed has been mandated to have better regulation to prevent banks from getting in trouble to begin with. the volcker rule, too, a key part, it was designed to prohibit proprietary trading by those institutions in the government safety net. if you're a bank holding company that has an insured bank that has fdic-backed deposits or access to the federal reserves discount window, you have a lot of government support pro
congress, think they can write any law, regulate behavior, and change any law. stuart: we talked about the situation, and, by the way, when the market opened this morning, the dow dropped 105 points, come back a lot, now down 36. maybe, charles, liz, maybe the market thinks that the cypress story is overblown, will not affect it, maybe not affect spain or italy artery. >> maybe not, you know, but certainly for people who have been really concerned with what's going on, with a government that buys 1.2 billion bullets, hires 16,000 new irs agents, a government that's spent a trillion more than they earn than brought in, it doesn't help. the people in this country who are afraid of losing their rights and liberty, it's scary. stuart: i want debt center stage, and it's not. >> it's not. it should be. it might be likely limited, but it shows there's nothing above political meddling. what used to be taboo is your deposits are safe from taxation. stuart: the time is up, butdagen, connell it's yours. connell: thank you, sir. dagen: if you bail out those depositors, why shouldn't they have to p
of weapon was prohibited under international law. >> so far, we have 16 martyrs and 86 wounded. most of them are in critical condition. the chemical contained in the missile causes immediate fainting, convulsion, and that. >> in istanbul, syria's main opposition group said they were looking at the attack rejected allegations that rebels were involved. we also know the rebels do not have access to chemical weapons. they would not have access to the means of launching these kind of chemical weapons. >> we have no details yet. we are against using chemical weapons from any side. i am not expecting the revolutionaries to do that, but we are against anyone who would use it. member for now, the reports cannot be independently verified due to tight media restrictions -- >> for now, the reports cannot be independently verified. if confirmed, a to be the first use of chemical weapons in syria's two-year long civil war. >> syrian opposition groups have been meeting to elect an interim government. more on that in a minute, but it is clear that an attack using chemical weapons has occurred, but both sid
's a law or change the election process, that's going to continue add infini infinitem, forever. it's unfortunate, it's sad. unless there's a-- unless we outlaw pork, i don't see anything changing. >> brenda: we have ourselves to blame at the bottom. but jonas, let's talk about all the fork projects. this has been going on forever and ever and both parties love to feast on pork. in fact, you can't cut it out all at once, right? >> i imagine if they cut it out completely there would be no passing of any bills because it doesn't add up to a whole lot, but boils down to, it's not going to balance the budget. and second, it's the bribe use today get the senators in congress to vote for these bigger, more important bills which would never get passed if you couldn't-- you're getting a bridge and you're getting this and you're getting a university. and these pork projects as terrible as they are is the carrot to pass. and as far as they don't get bigger legislation, the voters turn on them when they get major cuts to spending. pork is not the thing to get it done it's the-- >> and the dinn
's the wrong thing for economic stability. it's the wrong kind of plan if made into law to help us grow our economy, create jobs, create wealth, get people over time and bonuses and pay raises, the kind of thing you have when the economy's growing. this budget is just the wrong medicine. i just have to say i strongly, strongly believe that it takes us in the wrong direction. what does it do at bottom? it raises taxes. it raises taxes, according to the chairman, by 1 point -- $1 trillion, $985 billion -- billion dollars. that's almost a trillion -- and we think it raises it $1.5 trillion. there is a reserve fund to make it easy to raise more taxes. i ask the chair to close that so it couldn't be used to raise taxes easily and see a decline which would continue to cause me to believe that that is an additional part. but regardless, a trillion dollars of new taxes is a huge, huge tax increase. in january of this year, the president got a $650 billion big tax increase on the rich. and so this is a huge additional tax cut. plus a trillion in tax cuts in the president's health care bill. so we ar
.com we put the law on your side. david: a 17-year-old startup was acquired by yahoo. nick founded the mobile news app at just 15, no official price was announced for the deal, but reports say it was just under $30 million, not bad for a 17-year-old. >> love that. also, an egg that might break the base cat. a new york bakery selling this three foot easter egg for $1,000, weighing 22 pounds, dark chocolate adorned with birds that were inspired by angry birds. >> number two, february new home sales, economists expect new sales to drop 3.4 #%. january showed a surge of 16 #.6% and median sales price dropped. >> february durable goods orders tomorrow. economists expect the items to rise by 3.8% following a drop of 5.2 #% in january. >> thank you for joining us, a pleasure to have liz back with us. >> thank you so much. happy passover to our jewish friends, and "money" with our melissa francis is next. >> investors bet that all is not well in europe, cypress scored the bailout, but the bulls slammed. speculation grew that the brutal terms of the deal may become common place in future ba
of time. and republicans should say they're not if favor of the law and who is the guy who laughs in the background? and that's canned laughter, clemente, kind of what they do on ""i love lucy"" we can't afford the entire audience laugh so we've got one person that laughs. press that button. (laughter) see, i told you. the factor tip of the day. one of the most common phrases in the english language is i'm sorry. we all say it because we all do things that aren't good. the problem is it's not enough to say i'm sorry, and children especially need to learn that. if you do something bad to another person, you need to make amends as well as apologize. so, here is the factor tip of the day, think back over the last few weeks and months and if you've hurt somebody, even if you've apologized, try to make it up to them in a concrete way. and going forward, i'm sorry should always be accompanied by some form of restitution. that will automatically make you a person with class. factor tip of the day. and that's it for us tonight. please check out the fox news factor website is different fro
as clearly is the job that's destroyed when government first pulls that dollar out. we see those laws -- lost jobs as chronic unemployment and a stagnating economy. every $1 billion spent in washington means taking $9 from an average family. oother in direct taxes -- either in direct taxes or tax-driven price increases as businesses pass along their cost to consumers. that means that $1 trillion of new taxes that the senate has proposed means $9,000 per family. now we're told, don't worry, that's all paid by businesses. but businesses don't pay business taxes. they only collect them. they pass them on to us as consumers through higher prices, to us as employees through lower wages or to us as investors through lower earnings, usually on our 401-k's. $1 trillion of deficit as we ran up last year really means $9,000 of future taxes for every family , robbing our children of their futures. it's about time we started thinking in these numbers as families size to terms because ultimately these numbers have a very real impact on families who were struggling to balance their own budgets, to set thei
and there are similarities and the one similarity on this trading floor is look at the gm bankruptcy in the rule of law in the pecking order of financial liabilities, are there similarities? does it rhyme? there's definitely a little anxiety here and how it works is out anybody's guess. right now safety doesn't seem to be as rampant as one would expect. look at a two-day chart of ten and certainly we're down a handful of basis points, but if you open the chart up year to date you can see the pattern and it hasn't been violated that much and we're in a seven-week low yield and look at the backyard of cyprus and you see a different picture and these are ten-year booms and look at year to date and we're making new year to date low yield on the boom because the comp is it's under 140 close on december 31st. let's switch gears here. let's look at a november 1st start date to the euro. you can see that the euro right now is hovering at the lowest levels based on the close that we don't yet know about december 7th. pearl harbor day and it was comping back to november because it isn't on its lowest levels. if
at this saying, this time it's about the russian oligard. but if you don't follow some rule of law on these -- >> one more thing, barclay's, one of the few houses putting out research over the weekend put out this bar chart to show the size of the relative costs of banks bailing out the banking system based on gdp. look at cyprus. it is so outside. ireland comes next and greece. spain, italy. they don't even come close. there's 600 billion euros of senior debt in italy. >> three practical questions. first, there's a bank holiday today. there's a bank holiday technically tomorrow. >> probably. >> if you want to get your money out of cyprus, you can't. >> impossible. >> two, when there was a crisis in -- when we thought there was a true crisis going on in italy and spain, corporationes and some institutional investors put their money in, but retail did not for the most part. so what happens in cypress and what happens across the board? even in the u.s. whether we have -- it's called runs. >> why do you touch anybody under the insurance level, though? >> i agree. that's where the writ
, pushing senators to make background checks on all gun sales the law. national rifle association boss wayne law peer is hitting back hard, pointing out the mayor's recent failed plan to limit sugary sodas in his own city. >> they don't want him telling what food to eat. surely they don't want him telling them what firearms to buy. >> but the assaults on the gun lobby are coming from many fronts. in newtown, connecticut, where the school massacre took place, some families are complaining they received nra robocalls like this one posted on the huffington post web site. >> your state senator will play a key role in determining whether the connecticut general assembly will pass legislation restricting your gun rights. >> and president obama is weighing in, too, using his weekly radio address to push a ban on assault weapons, a limit on the size of ammunition magazines, and stepped-up background checks. >> they're supported by a majority of the american people, and i urge the senate and the house to give each of them a vote. >> still, the chief reason we're seeing so much activity right now is t
in 20 minutes. supreme court is taking up controversial voter i.d. law requiring people to prove their citizenship before they can vote. we're live in washington with the latest on that. >>> winter going out with a bang. blizzard conditions stretching from north dakota to iowa today. will spring ever get here? a look at the late winter storm and where it's headed coming up. when did you know that grandma was the one? when her sister dumped me. grandpa was my dad a goodthlete? no. oh dad, you remember my friend alex? yeah. the one that had the work done... good to see you. where do we go when we die? the ground. who's your girlfriend? his name is chad. and that's where babies come from. [ male announcer ] sometimes being too transparent can be a bad thing. this looks good! male announcer ] but not with the oscar mayer deli fresh clear pack. it's what you see is what you get food. it's oscar mayer. jenna: fox news weather alert for you now. a late winter storm slamming the upper midwest today. the national weather service is issuing blizzard and other severe weather warnings for th
! >>> >>> the tiny island of cyprus sets off big scare with plans to set off the rule of law. they want to tax all bank depositors large and small to pay for a bailout. this has never happened before.e are in trouble. if nothing happens, optimism runs the show. cyprus is the money ground for dirty money from russia and other rogue nations. the government of cyprus is scared to death of insulting vladimir putin. we'll have an expert who will play this scenario out for us. "the kudlow report" begins right now. >>> first up, let's get the latest on the cyprus report. michelle joins us by phone. >> good evening. the details are changing, but the one core fact important to investors is true. for the first time ever in the european crisis, portions of bank accounts will be seized in order to pay for a bailout. cyprus agreed to this to get a 10 billion euro loan to bail out their banks. what is still unclear and controversial is whether insured deposits will also be seized. original plan was if you had an account in cyprus with less than 100,000 euros, would you have to pay a tax even though it falls bel
am a citizen, right? so it's under oath. big deal. if you are willing to violate the voting laws i suppose you're willing to violate the perjury laws." despite issue the arizona officials say they are facing justices like ruth bader ginsberg said there are statutes saying they must accept and use the federal form period. that is the end of it. the obama administration is not an official party the case. the court permitted it to argue a portion of case against arizona today. critics of the arizona measure say they are feeling optimistic. >> federal law override this provision. we are confident today based on the argument in the supreme court. that the court will rule in our favor. >> retired justice and arizona native sandra day to connor was in court. cig nant because she sit -- significant because she sits on the understaffed court and on the panel that overturned the arizona registration requirement in 2010. a it the supreme court, shannon bream. fox news. >> bret: cyprus may confiscate money from individual savings accounts to pay its bills. we will talk about the global ramific
people and middle class people that use cyprus because of the rule of law, common law, the double tax treaties we have. it's a mistake to think that it is a very special class, of very rich people. these russians have their lawyers, their accountants, many of them have their families living in cyprus. they have their friends. we have a relationship that can with stand a shock like this. >> bearing that in mind, are the banks going to open on tuesday morning? >> i cannot say that. i cannot say that. it's always a mistake to say something like this when you are not completely sure. there is a lot of work to be done. but they will open very soon. >> and how long do you intend to use the capital controls? >> that also i cannot answer. but, again, our objective to keep them as limited and as short as possible. >> and finally, you bypassed the democratic process of a parliamentary vote with this field. will you consider tendering your resignation when you get back to cyprus? >> no, no, we did not bypass the poll. we passed a number of laws two nights ago. we have kept party leaders ip forms
if they are used by law enforcement. you mentioned that people think you are crazy if you are for jones. but what about the privacy base? think about it. police five helicopters over your house now. they have cameras. do you have a problem with that? they are useful and valuable as a law enforcement tool they can help look for lost people and bad guys and their quick on their response. the fuel and maintenance costs is lower than the cost of a helicopter. as a pilot, i want them flown on the under the watchful eye of the faa. but let's help law enforcement do a better job of keeping our neighborhoods safe. melissa: thank you, tom. be sure to catch it at seven and 10:00 p.m. on saturday and sunday, the tom sullivan show. i will be a guest this weekend. happy friday and thank you for joining us. have a great weekend. >> welcome, i am shibani joshi and four gerri willis. we will tackle the new blackberry. as i don't have anything to worry about? we will discover and talk about that as well. and the faa starts to close air traffic control towers. we will tell you how that can affect your travel plans
institutional reforms in terms of italy, still rigged labor laws, very hard to start a legitimate business, same thing in spain. so they've done very little of the reforms to revive these economies. instead they just borrow more and more and more. and pile on more taxes. it's a recipe for kwlure seeing unfold in sigh pulse are -- for what you're seeing unfold in sigh pulse are. >> politicians have struggled to -- sigh pulse are. >> poll -- cyprus. >> politicians have struggled with that. the united stateses is to move about half of its 100 international staff out of syria because of concerns for their safety. the decision comes after mortar shells fell near their hotel. the most -- most of the distribution work is now carried out by syrian staff themselves. u.s. secretary of state john kerry made an unannounced visit to afghanistan and vowed to stick by president hamid karzai despite mr. karzai's hostility toward the u.s.-led military efforts in the country. earlier this month the afghan president accused the u.s. of can lewding with the taliban -- colluding with the taliban. italy's highest cou
his challenges to voter i.d. laws in south carolina and texas. >>> we move on to business. today cypress' parliament will hold an emergency vote to approve bailout terms. it appears the country's law patients would not approve that measure which would result in a loss of much-needed funds. what it means for the rest of europe? we chenlg in with steve sedgwick live in london for us. good morning. >> very good day to you. just when you think europe's getting its act together another crisis comes along. we've had greece, spain, italy, ireland, portugal, now cyprus, the sec-smallest nation wind the european union. what is different about this potential bailout is the original cost is around 18 billion euros for the imf and cb but they want to get the costs down by taxing depositors. this would be the first time this is done. basically anyone who's got money in their account would have a levy before they can get to their money. today is a bank holiday. if you had under 100,000 euros in your account, every penny would have a 6.8% tax on it. if you have over 100,000 euros, a 9.9% tax. i
. at legalzoom.com we put the law on your side. melissa: as we do every 15 minutes, let's check the markets. sandra smith is on the floor of the new york stock exchange. sandra: across the board, it seems like people are definitely shopping. tiffany shares of 2.5% right now. they did report that they see a lackluster first quarter. they are talking about the first quarter that we are in. that playing out and that nike shares are hitting a 52 week high. those gross margins that investors are really chewing on. that unexpectedly move into years. nike finally doing something right. >> we were talking about those margins. sandra smith, always, thank you. the senate gearing up for a long night. which edson is in washington, d.c. what do you have for us, rich? rich: this is the first time we have seen this in years. since budgets are mostly nonbinding spending blueprints and do not have the force of law, these amendment votes are forcing democrats and republicans into political choices. they will probably fail as one budget cuts trillions in spending imbalances in ten years. the other does not. >
this house was led by democrats, and you can see the laws that they have passed and the amazing amount of spending that it would place upon our country. we don't even show in here individually where social security is that will go bankrupt. medicare, bankrupt. medicaid, insolvent. our inability to be able to pay or our future by creating jobs today. the free enterprise system is exactly what republicans support and believe in because that is the american dream. not government spending and government jobs. but rather a vibrant free enterprise system whereby there are employers who want to hire people to become employees to have careers, to then make this country better and stronger. the way you do that is by lowering government spending. by having a public-private partnership not by having the federal government be responsible for everything from a one-size-fits all health care industry to government control of every part of our lives. yesterday paul ryan very effectively, i believe, came before the house rules committee nd talked about a vision forward. what's very interesting is every
the european markets. here, unprecedented and contrary to the insurance laws, and the rule of law concept, they are taking the money from the depositors. what faith will they have now, aside from cyprus, what are the other member states and their deposits have to say? remember, the concept of the eu was to have a unified national union of sorts. in this country, if we had one state or one bank going under, we wouldn't expect all the depositors throughout the united states and every bank to contribute. on the contrary. >> now, i understand that about half of the depositors are russians. which is also interesting. >> well, and that's the backstory. >> give me the backstory. >> my interpretation of the backstory is, if you recall, the troika, sneao to speak, has bee looking for an alleging of laundering money. it's been going on, they've been looking for this and nothing's been found. it's like accusing someone of a crime and expended so much time and energy and not finding it and now they've got to extract some basis of retribution. >> so it's basically like saying, we know you've been mone
at the borders to make sure people aren't bringing out large amounts of cash. normally under european law, that would be prohibited. but there are exceptions for emergencies. it's going to be pretty tough here over the next couple of days, larry. and if they don't come up with a deal, which people still think is actually quite possible, this could be a situation where we're talking about a country leaving the euro. but we're not there yet. back to you. >> all right. many, many thanks, michelle caruso-cabrera, we appreciate the update. you'll continue to give us live reports tomorrow on cnbc throughout the day. meanwhile, the finance minister of cyprus will present a plan to russia tomorrow that apparently would have the oil and gas company restructure the cypriot banks in return for full natural gas exploration rights. of course, this would bail out the russian money launderers and other depositors in the cyprus banks. no doubt, russia is invested in this crisis. the country reportedly keeps $19 billion in personal deposits in cyprus. nobody knows what that means. nobody knows what the pa
. and it just signed a law to protect sugary drinks from regulations. the so-called anti-bloomberg law as we approach the bottom of the hour and the top of the news as fox reports live tonight. t under sized then this will be a nice surprise. meet the 5-passenger ford c-max hybrid. c-max come. c-max go. c-max give a ride to everyone it knows. c max has more passenger volume than competitor prius v and we haven't even mentioned... c-max also gets better mpg. say hi to the super fuel efficient ford c-max hybrid. even in stupid loud places. to prove it, we set up our call center right here... [ chirp ] all good? [ chirp ] getty up. call me! seriously, this is really happening! [ cellphone rings ] hello? it's a giant helicopter ma'am. [ male announcer ] get it done [ chirp ] with the ultraugged kyocera torque, only from sprint direct connect. buy one get four free for your business. when her sister dumped me. grandpa was my dad a goodthlete? no. oh dad, you remember my friend alex? yeah. the one that had the work done... good to see you. where do we go when we die? the ground. who's your girlfri
aren't following the law. >>brian: he says the money should be poured into school security so they won't have soft targets. with adam lanza, they said he taught about this attack for two years and picked that school because he knew it was an easy target. >>steve: in addition to the $12 million worth of bloomberg's money, on wednesday they will have 100 events across the united states. it will be national day to encourage action. >> there is one lucky truck driver who at 10:00 a.m. eastern time will be cashing in on his winning powerball ticket. it is sold in new jersey. they are going to be revealed today. look what is going to happen when he takes his check in borden town. >>steve: altogether the powerball ticket is worth $338 million. but when you figure out your tax bite, 46.1%. about half goes to federal and new jersey state taxes if he does take it in the lump sum, he will take home $221 million. >>brian: how do you live on that? >>steve: how do you? unfortunately, for the tax bite, it is $11 million more than it would have been last year because of that increase in taxes on peopl
with faux fur when they contained real fur. it prohibits the retailer from violating those laws for 20 years. >>> total number of mortgage applications subpoena applied for in the u.s. fell. shows refinance index declined 8% from the previous week. >>> fox sports announces a 12-year deal with the new big east basketball conference the cable network is set to make its debut august 17th. it will include partnerships with the msg and msg network. that is today's speed read. david: well the fed announcing it will continue pumping money into the economy while leaders in washington still can't balance the budget. our next guest spent years battling policies like these when he was congressman. will his legacy live on. joining me in fox business exclusive, the man, the legend, former congressman dr. ron paul. dr. paul great to hear from you. what have you been doing with your time when you left congress? >> waiting for you to call. i'm delighted for you to hear from you. david: we'll call every day. you will get sick of me. >> i've been pretty busy traveling, talking about, what other thing can i ta
followed by a grand coalition with a narrow mandate, including to change the electoral law is the most likely venue. >> how pressing is the need to change electoral law so that if there are fresh elections held, there would be a clear outcome the next time? >> i think it's important. it's important because if they set up in a way in which they stable the larger parties, central right and central left, it will make the outcome of elections more likely to be stable for the next time around. and i think the incentives may be aligned in that respect to play against the pakistan movement. so we think that -- and also it's just needed a 51%. solo it's never easy, we think this time around incentives might be aligned for that change. >> okay. and still italy's market holding up reasonably well ahead of all of this. details on that hopefully out later on today. >>> ahead on the program, oecd's secretary calling for calm over cyprus. do you think the country will leave the eurozone? find outway told cnbc when we come back. impact wool exports from new zealand, textile production in spain, and t
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a slight gain wi the nasdaq and s&p 500 posting minor laws. the s&p fell for thehird straight seson. that is the worst losing streak of the year. microsoft could be in some hot water with the justice department. microsoft and some of its business partners are being investigated over a foreign bribery claims. government officials in china, italy and romania were allegedly bribed to earn software contracts but shares of microsoft still managed to close the day up slightly. >>> all right we start tonight in cyprus. th parliament rejected the tax on bank deposits, potentially killing the bailout but russia is floating another option, gazprom, which is russia's state-owned oil company, is reportedly offering exploration rights to the island's rich natural gas fields. here to break it down the former im fsec tiff board member and current visiting fellow at the peterson institute for international economics. doug, welcome to the show. >> thanks. melissa: is there a danger to letting russia really get its hooks in cyprus ke that? should we be worried about that? >> absolutely. i mean russia
the letter of the law than in a place like cyprus and the european union and over let issue is the country and seeing whether or not they can back fdic insurance and we don't have that problem at this point. >> cyprus is hoping to raise money from their bank deposit tax because when the banks do open up and they're closed until thursday. if you're a russian oligarch with $1 billion in a cypriot bank account that is facing a 9.9% tax above 100,000 euros you are going to pull that out and go to jersey -- not new jersey, the cayman islands. >> and they will have it. >> they say it will be one time. >> they'll raise 10 billion and 20 billion. >> they'll come back and that's the issue. >> no, they won't. they'll raise 10 or 20 billion in a one-time move and they'll lose hundreds of billions and the european markets will wipe out hundreds of billions in capital. >> they're doing what they need to do to raise the 5.8 billion euros to get the imf and ecb bailout and they'll deal with the consequences tomorrow. >> this is the old imf. when the imf came to korea in the '90s. when the imf came to lat
california's demanding of some taxpayers who basically followed the law and are now being treated as outlaws. >> this notice was the first. >> to brian overstreet, a punch in the gut, compliments of california, a six figure bill for back taxes. >> it's outrageous, not just a five year look back, but interest on money that you didn't know you owed. >> overstreet and hundreds like him got a letter from the state telling him due to a court ruling, a 50% tax break for small business and startup investors was no longer available, and anyone who claimed it in the last five years had to pay up. >> retroactivity is an issue of fairness and credibility for california. >> california's tax leaders say what the state is doing is unfair, overreacting, and overreaching, hoping to claw back some $120 million for cash strapped california. >> the problem right now we have is what's the revenue identified, those folks up in sacramento will spend it already. >> probusiness lawmakers trying to resend the letter fearing high-tech investor who build the state's venture capital economy will flea to lower tax state
to most places. we have a rule of law that really helps us tremendously in terms of managerial efficiency and contracts and complex documents can be entered into. and if there's a dispute over it, you can go to a federal or state court and have a pretty good chance of a fair decision being reached, even in the most complex matters involving high finance. but that's not true in most places in the world. so it gives us an advantage. we've got an educated work force. we've got a lot of people who are really willing to work and hustle. we've some advantages. we have a history of -- of trade and freedom. but i want to show this chart because we may not be doing as well as we think we are. and the debt that we're facing may be more serious than a lot of people will acknowledge. this is a chart that shows the debt per person in the euro zone compared to the united states. and it's a really a stunning chart. and people have explained it somewhat by saying, well, our economy in the united states is bigger than other economies in the world. therefore, individual americans normally make more money a
the respect of rule of law. that said, what we see in cypress, there's a government big enough to give you everything, that's big enough to take it all. >> what chance of con they onhere? so longer or later, the banks reopen, and when they do, odds are people want their money out. will people in spain and italy think the same and get their money out as well. is there a risk here? >> well, this is the whole story of the european, of this european crisis is this. it looks like the big fear is whatever happens in the country, the collapse in the country, whatever form it takes will triller panic in other countries, spain, italy, and even the french. i mean, the big french banks are in big trouble, not really on safe grounds, and so i think there is a real contagious issue. there is, also, i guess, a seed of anxiety in countries thinking, oh, wait a second. a deposit can be addressed in other countries, and if the european union or the imf is demanding this type of payment for bailouts, are we next? >> yeah, got it. thank you very much for joining us as always. thank you very much. >> thanks f
is the rule of law being brought into question. can rules about depository insurance change over the course of a weekend? i think the size of cyprus right now, what it represents directly is not a threat. we're assessing. but if this is contained in some broader bailout oriented scheme, i think it could be something weathered by the markets. that said, the rule of law being brought into question is not a good thing. >> steve sacks, are you seeing a reaction in some of the european etfs out there? or are you seeing the same kind of money mentality going into exchange traded funds? what are you seeing out there? >> maria, it's really the same reaction we're seeing in broader equities today. you know, basically an overreaction. you know, we saw higher volumes in volatility spike on the open this morning with that gap lower. we've seen volumes in money flows just sort of steady out throughout the course of the day. obviously a lot of talk this morning on wall street about, you know, what happened over the weekend, you know, with cyprus. at the end of the day i think the market pretty quickly di
international law to the realm of cyber conflict. it seeks to protect civilian targets such as hospitals and schools in a full blown cyber warfare. follows reporting which has linked the chinese military to u.s. government and corporate computer network. chie these government officials have strongly denied the claims. meanwhile the united states have established a new cyber command led by general keith alexander. he testified before the arms services committee last week. this is an offensive team that the defense department would use to defend the nation if it were attacked in cyber space. joining me now from washington to discuss the developing battle ground david sanger of the "new york times." welcome. >> great to be back with you. >> tell me why security experts are saying this has become if not our biggest national security threat the one emerging with the most concern for them. >> well it's certainly our newest and it may be among the urge else as it's an issue of consider debate. it's urgent because there are cyber attacks on the united states, mostly on u.s. corporations that tak
countryside. they have a law there passed in 1985 after the name of the legislator. it offers a choice to unemployed workers. you can take a goal every week, an unemployment check the way we do in this country, or you have an option if you get at least nine other workers to make -- the unemployed workers like yourself to meet the following choice, you can get as a lump sum it can get your entire unemployment program of two years of checks in your hands right to the beginning -- you have to have nine other workers or more -- and have to use that money as the startup capital for a cooperative enterprise. the idea of the italian government was, if we give workers this to set up a job and enterprise, they will be much more committed to it than they would if they did not have that. >> how do they know they will do it? >> they don't. but they know the workers have an incentive. if they don't make that work, they cannot go back and collect unemployment the government does not spend much more than it would anyway, but it creates jobs and creates workers committed because it is their enterprise
. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. ♪ [ male announcer ] how do you engineer a true automotive breakthrough? ♪ you give it bold styling, unsurpassed luxury and nearly 1,0 improvements. thredesigned 2013 glk. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. at od, whatever business you're in, that's the business we're in. with premium service like one of the best on-time delivery records and a low claims ratio, we do whatever it takes to make your business our business. od. helping the world keep promises. shibani: blackberry larching its first touch screen device today in the united states,
of mine from law school is by no means a guy that fell off the turnip truck. he is the most shrewd evaluator of tech companies and then, listen, this is worth a lot more. maybe icahn doesn't like michael dell and that school yard crying game. >> strawberry on a sunday? >> i tell you that. from's there's so much money. the fact is we don't want to talk about the $100 billion vodafone deal. what the heck is happening that a year ago all we cared about was whether -- whether italy was going to go over 7%. now we're thinking this dell deal and three buyers, maybe they paid 15 because they're getting a very solid pc company. personal computer? what do i use? i have hewlett-packard to get in the mix. i'm on a dell. maybe that's the thing. we're keeping them a float. >> i know there is a rival station that has another name in front of it. i wonder if you peel it off if it's dell and it's a sub move by dell. >> i never watched that station. >> you get caught. >> let's say you're a dell shareholder still. you sell now or you wait. >> i thought you sell at $14. i am out of the running of peo
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